April 27, 2020 / 11:52 PM / a month ago

Hong Kong's central bank sells HK$10.67 bln in New York hours after HKD rises to trading limit

HONG KONG, April 28 (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$10.672 billion ($1.38 billion) worth of Hong Kong dollars in New York trading hours after the local currency hit the strong end of its trading band.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$84.713 billion on April 29, a HKMA spokesman said.

The Hong Kong dollar is pegged to the greenback at 7.75 to 7.85 per U.S. dollar. ($1 = 7.7500 Hong Kong dollars) (Reporting by Twinnie Siu and Donny Kwok, editing by Louise Heavens)

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